Fed Adopts Oversight, Capital Standards For Foreign Banks

Law360, Washington (February 18, 2014, 6:23 PM EST) -- The Federal Reserve Board on Tuesday adopted a final rule requiring added oversight and tightened capital requirements for large foreign-owned banks operating in the U.S., a move that the Fed says is designed to mitigate systemic risk in the event of a big bank failure.

The rule, approved unanimously at a public meeting, implements so-called enhanced prudential standards mandated by the Dodd-Frank Act and requires compliance from banks with $50 billion or more in total assets.

Under the rule, the Fed will require about 17 large,...
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